Fluxys issues on the Belgian market a retail bond with a par value of €1,000 with a view to financing its investment programme and optimizing its balance sheet structure. The company expects to raise €100-350 million.
Fluxys is to employ the bond issue to move towards a financial structure that is more in line with the Belgian regulatory framework (with a ratio of 1/3 equity to 2/3 borrowed funds).
The funds will also be used to finance projects in the company’s long-term investment programme in implementation since 2009 and adjusted annually to keep it on target with the needs of the natural gas market.
For the next 10 years, the programme still represents an amount slightly in excess of €1.5 billion, with projects to further enhance the crossroads function of the Belgian grid, thus supporting security of supply and the well-functioning of the market.
[mappress] LNG World News Staff, April 2, 2012